Spaxel sells Norwood rental for $16.1M

The entity 3254 Parkside Realty LLC paid $16.1 million to Spaxel through the entity Webster Ave Propco LLC for 98-unit rental (D9) at 3254 Parkside Place in Norwood, Bronx.
The deal closed on November 4, 2021 and was recorded on November 23, 2021.
The property has 98,158 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $163 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on March 13, 2018, for $1.6 million.
The signatory for Spaxel was Granit Gjonbalaj. The signatory for 3254 Parkside Realty LLC was Robert J. Teitelbaum.
(220672662) Plans for a 98-unit, 66,964 square-foot R-2 were filed on December 6, 2018 and were permitted on May 18, 2020.
The brokers were Cushman & Wakefield’s Jonathan Squires and Josh Neustadter.
Within a 400-foot radius of 3254 Parkside Place, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $11.7 million. The most recent of the two was Yehuda Lowy which borrowed $6.7 million from LMF Commercial secured by the 18,839-square-foot, 22-unit rental (C1) on 375 East 209th Street and two other properties on July 8, 2021.

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